Commerce Minister Piyush Goyal recently held "forward-looking" discussions with US Trade Representative Jamieson Greer, focusing on a mutually beneficial bilateral trade agreement (BTA) between India and the US.

The meeting was part of ongoing efforts to strengthen economic ties between the two nations, with a goal to finalize the first phase of the BTA by fall 2025. Goyal emphasized that India's approach will be guided by the principles of "India First," "Viksit Bharat," and the comprehensive strategic partnership between the two countries.

The talks follow a commitment by US President Donald Trump and Prime Minister Narendra Modi to double bilateral trade to $500 billion by 2030, known as "Mission 500." This ambitious goal aims to boost prosperity, strengthen national economies, and enhance supply chain resilience.

However, negotiations face challenges such as tariffs, market access, and national security concerns. The US has expressed concerns over India's high tariffs, which could be a sticking point in negotiations.

Goyal's visit to the US also included meetings with other key officials, including US Commerce Secretary Howard Lutnick, to address urgent trade issues ahead of the implementation of reciprocal tariffs by the US from April 2.

In response to these developments, Goyal has urged Indian exporters to move away from a protectionist mindset and be prepared to engage with the global market from a position of strength.

The Indian government is working to protect exporters' interests amid US tariff threats, particularly in sectors like leather and textiles.

Agencies